Eaton Co. plc (NYSE:ETN) Shares Sold by Bey Douglas LLC

Bey Douglas LLC cut its holdings in shares of Eaton Co. plc (NYSE:ETN) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 6,663 shares of the industrial products company’s stock after selling 95 shares during the period. Eaton accounts for about 1.9% of Bey Douglas LLC’s holdings, making the stock its 18th biggest holding. Bey Douglas LLC’s holdings in Eaton were worth $2,211,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ETN. Wetzel Investment Advisors Inc. boosted its stake in shares of Eaton by 0.9% in the fourth quarter. Wetzel Investment Advisors Inc. now owns 3,101 shares of the industrial products company’s stock valued at $1,029,000 after purchasing an additional 28 shares during the period. Fairfield Financial Advisors LTD grew its stake in Eaton by 16.2% during the 3rd quarter. Fairfield Financial Advisors LTD now owns 215 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 30 shares in the last quarter. Westmount Partners LLC increased its holdings in Eaton by 3.1% during the 4th quarter. Westmount Partners LLC now owns 985 shares of the industrial products company’s stock worth $327,000 after purchasing an additional 30 shares during the period. Signal Advisors Wealth LLC raised its position in Eaton by 3.5% in the 4th quarter. Signal Advisors Wealth LLC now owns 896 shares of the industrial products company’s stock valued at $297,000 after purchasing an additional 30 shares in the last quarter. Finally, Lantz Financial LLC boosted its stake in shares of Eaton by 4.8% in the 4th quarter. Lantz Financial LLC now owns 659 shares of the industrial products company’s stock valued at $219,000 after buying an additional 30 shares during the period. 82.97% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. UBS Group assumed coverage on shares of Eaton in a research report on Wednesday, November 13th. They issued a “buy” rating and a $431.00 price objective on the stock. Melius cut Eaton from a “buy” rating to a “hold” rating and set a $373.00 price target on the stock. in a research note on Tuesday, January 28th. Sanford C. Bernstein assumed coverage on Eaton in a research report on Tuesday, November 5th. They set an “outperform” rating and a $382.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on Eaton from $350.00 to $348.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company dropped their price target on shares of Eaton from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $369.20.

Insiders Place Their Bets

In other news, insider Ernest W. Marshall, Jr. sold 1,412 shares of Eaton stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $378.58, for a total transaction of $534,554.96. Following the completion of the sale, the insider now directly owns 31,200 shares in the company, valued at $11,811,696. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory R. Page sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $355.98, for a total transaction of $3,559,800.00. Following the sale, the director now owns 43,203 shares in the company, valued at approximately $15,379,403.94. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by company insiders.

Eaton Stock Down 0.7 %

ETN opened at $307.70 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market cap of $121.60 billion, a price-to-earnings ratio of 32.39, a PEG ratio of 2.37 and a beta of 1.05. Eaton Co. plc has a one year low of $255.65 and a one year high of $379.99. The business’s fifty day moving average is $339.72 and its two-hundred day moving average is $331.47.

Eaton (NYSE:ETN) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same period in the prior year, the firm earned $2.55 EPS. Analysts anticipate that Eaton Co. plc will post 12.04 EPS for the current fiscal year.

Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.